IRIS Accounts Production v23.3.1.45 NI040825 Board of Directors Board of Directors 1.9.22 31.8.23 31.8.23 false true false false false true false Ordinary 1.00000 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureNI0408252022-08-31NI0408252023-08-31NI0408252022-09-012023-08-31NI0408252021-08-31NI0408252021-09-012022-08-31NI0408252022-08-31NI040825ns16:NorthernIreland2022-09-012023-08-31NI040825ns15:PoundSterling2022-09-012023-08-31NI040825ns11:Director12022-09-012023-08-31NI040825ns11:Director22022-09-012023-08-31NI040825ns11:PrivateLimitedCompanyLtd2022-09-012023-08-31NI040825ns11:SmallEntities2022-09-012023-08-31NI040825ns11:AuditExemptWithAccountantsReport2022-09-012023-08-31NI040825ns11:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-31NI040825ns11:SmallCompaniesRegimeForAccounts2022-09-012023-08-31NI040825ns11:FullAccounts2022-09-012023-08-31NI04082512022-09-012023-08-31NI040825ns11:OrdinaryShareClass12022-09-012023-08-31NI040825ns11:CompanySecretary12022-09-012023-08-31NI040825ns11:RegisteredOffice2022-09-012023-08-31NI040825ns6:CurrentFinancialInstruments2023-08-31NI040825ns6:CurrentFinancialInstruments2022-08-31NI040825ns6:ShareCapital2023-08-31NI040825ns6:ShareCapital2022-08-31NI040825ns6:RetainedEarningsAccumulatedLosses2023-08-31NI040825ns6:RetainedEarningsAccumulatedLosses2022-08-31NI040825ns6:NetGoodwill2022-09-012023-08-31NI040825ns6:IntangibleAssetsOtherThanGoodwill2022-09-012023-08-31NI040825ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-09-012023-08-31NI040825ns6:PlantMachinery2022-09-012023-08-31NI040825ns6:FurnitureFittings2022-09-012023-08-31NI040825ns6:MotorVehicles2022-09-012023-08-31NI040825ns6:NetGoodwill2022-08-31NI040825ns6:NetGoodwill2023-08-31NI040825ns6:NetGoodwill2022-08-31NI040825ns6:LandBuildings2022-08-31NI040825ns6:PlantMachinery2022-08-31NI040825ns6:FurnitureFittings2022-08-31NI040825ns6:MotorVehicles2022-08-31NI040825ns6:LandBuildings2022-09-012023-08-31NI040825ns6:LandBuildings2023-08-31NI040825ns6:PlantMachinery2023-08-31NI040825ns6:FurnitureFittings2023-08-31NI040825ns6:MotorVehicles2023-08-31NI040825ns6:LandBuildings2022-08-31NI040825ns6:PlantMachinery2022-08-31NI040825ns6:FurnitureFittings2022-08-31NI040825ns6:MotorVehicles2022-08-31NI040825ns6:WithinOneYearns6:CurrentFinancialInstruments2023-08-31NI040825ns6:WithinOneYearns6:CurrentFinancialInstruments2022-08-31NI040825ns6:AcceleratedTaxDepreciationDeferredTax2023-08-31NI040825ns6:AcceleratedTaxDepreciationDeferredTax2022-08-31NI040825ns6:DeferredTaxation2022-08-31NI040825ns6:DeferredTaxation2022-09-012023-08-31NI040825ns6:DeferredTaxation2023-08-31NI040825ns11:OrdinaryShareClass12023-08-31NI0408252ns11:Director22022-08-31NI0408252ns11:Director22021-08-31NI0408252ns11:Director22022-09-012023-08-31NI0408252ns11:Director22021-09-012022-08-31NI0408252ns11:Director22023-08-31NI0408252ns11:Director22022-08-31
REGISTERED NUMBER: NI040825 (Northern Ireland)















Financial Statements for the Year Ended 31 August 2023

for

Portrush Sportsland Limited

Portrush Sportsland Limited (Registered number: NI040825)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 9


Portrush Sportsland Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: P O'Donnell
A B Mullan





SECRETARY: A B Mullan





REGISTERED OFFICE: 8A Market Street
Omagh
Co. Tyrone
BT78 1EH





REGISTERED NUMBER: NI040825 (Northern Ireland)





ACCOUNTANTS: Lynn Drake & Co Ltd
Chartered Accountants
1st Floor
34 B-D Main Street
Moira
Co. Armagh
BT67 0LE

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Portrush Sportsland Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 August 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 August 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






Lynn Drake & Co Ltd
Chartered Accountants
1st Floor
34 B-D Main Street
Moira
Co. Armagh
BT67 0LE


11 January 2024

Portrush Sportsland Limited (Registered number: NI040825)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 776,537 766,682
776,537 766,682

CURRENT ASSETS
Stocks 22,513 32,955
Debtors 7 957,243 808,117
Cash at bank and in hand 760,091 667,527
1,739,847 1,508,599
CREDITORS
Amounts falling due within one year 8 1,167,603 1,100,727
NET CURRENT ASSETS 572,244 407,872
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,348,781

1,174,554

PROVISIONS FOR LIABILITIES 9 24,829 12,232
NET ASSETS 1,323,952 1,162,322

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 1,323,950 1,162,320
SHAREHOLDERS' FUNDS 1,323,952 1,162,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Portrush Sportsland Limited (Registered number: NI040825)

Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 January 2024 and were signed on its behalf by:




P O'Donnell - Director



A B Mullan - Director


Portrush Sportsland Limited (Registered number: NI040825)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Portrush Sportsland Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Premises - 2% on cost
Plant and machinery - 30% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on Reducing Balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Portrush Sportsland Limited (Registered number: NI040825)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment ar recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

Portrush Sportsland Limited (Registered number: NI040825)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 1,139,366
AMORTISATION
At 1 September 2022
and 31 August 2023 1,139,366
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
Premises machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2022 1,156,226 1,497,250 199,908 7,034 2,860,418
Additions - 73,260 - - 73,260
At 31 August 2023 1,156,226 1,570,510 199,908 7,034 2,933,678
DEPRECIATION
At 1 September 2022 464,782 1,450,494 171,453 7,007 2,093,736
Charge for year 23,125 36,007 4,268 5 63,405
At 31 August 2023 487,907 1,486,501 175,721 7,012 2,157,141
NET BOOK VALUE
At 31 August 2023 668,319 84,009 24,187 22 776,537
At 31 August 2022 691,444 46,756 28,455 27 766,682

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 227,348 86,993
Directors' loan accounts 699,502 699,502
Prepayments 30,393 21,622
957,243 808,117

Portrush Sportsland Limited (Registered number: NI040825)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 184,154 94,992
Amounts owed to participating interests 881,177 879,542
Tax 42,137 67,260
Social security and other taxes 3,237 3,409
Machine Gaming Duty 19,537 27,826
VAT 28,282 19,259
Other creditors 168 160
Accrued expenses 8,911 8,279
1,167,603 1,100,727

9. PROVISIONS FOR LIABILITIES
31.8.23 31.8.22
£    £   
Deferred tax
Accelerated capital allowances 24,829 12,232

Deferred
tax
£   
Balance at 1 September 2022 12,232
Charge to Statement of Income and Retained Earnings during year 12,597
Balance at 31 August 2023 24,829

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
2 Ordinary £1 2 2

Portrush Sportsland Limited (Registered number: NI040825)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
A B Mullan
Balance outstanding at start of year 699,502 267,639
Amounts advanced - 431,863
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 699,502 699,502

In December 2021 the company made an advance to one of its directors. The loan is interest free and is repayable on demand.

12. RELATED PARTY DISCLOSURES

Portrush Sportsland Limited received an interest free loan from Telco Trading Limited. The two companies are under common ownership. The balance on this interest free loan as at 31 August 2023 was £881,177. (2022: £879,542).